Webull has a targeted promotion for existing users (and possibly new users) – get up to 100 free stocks when you deposit money and leave it at Webull until 7/31/20. Each stock is worth anywhere from $9-$1000. Check your account to see if you're targeted! If you've got cash or investments available to transfer this might be for you. With a $25k deposit, you'll get 30 free stocks, $100k gets you 50 free stocks, and $500k gets you 100 free stocks.
New user? Webull is a zero commission brokerage account – check out the new user bonus here. I just signed up a friend and this bonus showed up the next day after the account was approved.
Are the free stocks worth it?
The lowest level of 30 free stocks would be worth a minimum of $30 x $9 = $270. I wouldn't expect much more than that realistically. That's about 1% return on your $25k in 2.5 months if you just leave it there and do nothing.
That's much more than you'll get versus a high yield savings account. Amex Personal Savings and Marcus just dropped their interest rates to 1.3% per year, as a comparison. Keep in mind that your brokerage might charge transfer fees though Webull will reimburse you up to $100. You can just leave the funds sitting there and collect your bonus. I understand that the value of the stocks is the value when the promotion starts so that $9 stock could be more or less at the end of July when you claim them.
How To Get The Webull Deposit Tier Promotion
- New Users: If you don't have an existing account, you can try opening one but you may not get targeted for this offer (a friend just signed up and was targeted). New users do get 2 free stocks when you open a new Webull Brokerage account (my referral link) and deposit $100. Many thanks if you do use my link. Feel free to post your link in the comments.
- Existing Users: open your app and click MENU on the bottom left corner. Look for Deposit Tier Promotion and click on it (see picture below).
- Deposit or transfer the amount for whatever tier you want.
- Claim your free stocks on 7/31/20 (have to leave the money there until then!)
- Deposit/Transfer in between 5/15/2020-5/31/2020 to qualify.